Personal Banking

Reserve Line

SharePoint's Reserve Line of Credit is a revolving line of credit available with your SharePoint Checking account. It provides you peace of mind and financial freedom with a personal line of credit as well as the security of overdraft protection. Reserve Line features:

The Reserve Line of Credit automatically advances in $100 increments when the checking account balance falls below zero and any savings funds have been exhausted.

Reserve Line can prevent overdraft fees and checks being returned NSF on your checking account.

  • Unsecured credit limits range from $100 to $5,000, depending on your credit qualifications.
  • Monthly payments are drawn automatically from the checking account on the 20th of every month. The payment amount is determined by the Reserve Line of Credit loan balance.
  • You can write yourself a loan from your checking account to pay bills or make purchases.
  • Once your application is approved and an agreement is signed, your Reserve Line is activated.

Why would I choose to have a Reserve Line?
Mistakes and accidents can happen, but access to your funds is crucial. Reserve Line offers assurance that in the event you need additional funds or expected deposits are delayed, you have funds available to draw from. With no annual fee, this convenient product costs nothing to have, but can save you money and stress, should an issue ever arise.

How can I use the Reserve Line?
Access your Reserve Line by simply writing a check which will advance funds that can be used to pay for an emergency, buy something special, or cover unexpected expenses. Whenever funds are advanced, you will be mailed an advice of transaction to enter into your checking register as a deposit. If your checking account balance would go below $0, an automatic advance would be made in increments of $100 (unless under $100 is available).

How do I repay the advance(s)?
Easily make a payment or pay off your balance at any time in person or by phone.

What is the cost for the Reserve Line?
There is no fee for Reserve Line unless funds are advanced and/or there is a balance. There is a $2.00 fee for each automatic advance made from your Reserve Line. If you carry a balance on Reserve Line each month, you'll need to make the minimum monthly payment of 4% of your outstanding balance, or $50.00, whichever is greater. Reserve Line payments are due on the 20th of every month. If you never use your Reserve Line, you will never incur interest charges. There is no Annual Fee to have Reserve Line.

Apply for a Reserve Line of Credit today; its easy:

The finance charge is determined by the amount advanced and number of days you use the funds.


Next Steps

Type Rate APY*
Regular Share Savings
$5.00 and above 0.100 0.100

Money Market (avg daily balance)
up to $4,999.99 0.100 0.100
$5,000 - $9,999.99 0.150 0.150
$25,000 - $49,999.99 0.199 0.200
$10,000 - $24,999.99 0.199 0.200
$50,000 and above 0.250 0.250

Free Checking 0.000 n/a
Advantage Checking † 0.100 0.100
Choice Plus Checking 0.100 0.100
Premier Rate Checking - On Going Rate 1.000 1.000
Premier Rate Checking - Introductory Rate 5.000 5.000
IRAs 0.399 0.400
*APY = Annual Percentage Yield and is subject to change.

† Not available for new members.


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